Versor Investments LP Invests $338,000 in Carrier Global Co. (NYSE:CARR)

Versor Investments LP bought a new position in shares of Carrier Global Co. (NYSE:CARR) in the third quarter, according to the company in its most recent filing with the SEC. The firm bought 4,200 shares of the company’s stock, valued at approximately $338,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in shares of Carrier Global by 280.1% in the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock valued at $1,342,727,000 after buying an additional 17,021,768 shares in the last quarter. Capital International Investors grew its holdings in Carrier Global by 4.6% during the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after acquiring an additional 3,763,666 shares during the last quarter. PineStone Asset Management Inc. increased its position in Carrier Global by 139.7% in the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after acquiring an additional 3,741,206 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Carrier Global in the second quarter worth about $58,415,000. Finally, International Assets Investment Management LLC raised its stake in shares of Carrier Global by 8,797.3% in the third quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock worth $730,250,000 after acquiring an additional 897,061 shares during the last quarter. 91.00% of the stock is owned by institutional investors.

Carrier Global Trading Down 0.6 %

Shares of NYSE CARR opened at $74.53 on Friday. Carrier Global Co. has a twelve month low of $51.20 and a twelve month high of $83.32. The stock has a market cap of $66.87 billion, a price-to-earnings ratio of 18.98, a P/E/G ratio of 2.74 and a beta of 1.34. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The company’s fifty day moving average is $77.63 and its 200-day moving average is $69.69.

Carrier Global announced that its board has approved a share buyback program on Thursday, October 24th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Carrier Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be issued a dividend of $0.19 per share. The ex-dividend date is Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 1.02%. Carrier Global’s dividend payout ratio is presently 19.24%.

Analyst Ratings Changes

A number of analysts recently weighed in on CARR shares. Morgan Stanley began coverage on shares of Carrier Global in a report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price target for the company. Robert W. Baird lowered their target price on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. JPMorgan Chase & Co. began coverage on Carrier Global in a research note on Thursday, October 10th. They set a “neutral” rating and a $83.00 price target on the stock. Bank of America lifted their price objective on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Carrier Global has an average rating of “Moderate Buy” and an average price target of $82.31.

Carrier Global Profile

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.